AC Export ALGERIA: Algeria is accelerating efforts to diversify its economy beyond hydrocarbons, with domestic manufacturers gaining traction in European markets. Condor Electronics, the country’s largest appliance manufacturer, has secured orders for 250,000 air conditioners from European buyers, highlighting the growing competitiveness of North African manufacturers in Europe’s consumer appliance supply chain. The milestone was underscored during a visit by Algeria’s Minist

European Ventilation Market Returns to Growth in 2025 Following several years of contraction, the European ventilation market returned to growth in 2025. Based on the latest update of the 15 recently published BRG Ventilation reports, demand for several ventilation products increased modestly. Overall sales increased despite a further decline in new housing completions. Growth in the residential replacement market and non-housing segment offset continued weakness in residenti

How Policy, Not Technology, Is Driving the Decline of Gas Heating in Australia Australia's transition away from gas heating is often framed as a technological shift driven by the rise of heat pumps, reverse cycle air conditioning and other electric alternatives. Yet this explanation overlooks a more important reality. The technologies capable of replacing gas heating have existed for years and, in many cases, have been widely adopted for decades. What has changed is not only

Samsung and LG Intensify Competition in South Korea's Residential Heat Pump Market SOUTH KOREA: Samsung Electronics and LG Electronics are expanding their presence in South Korea's emerging residential heat pump market, supported by the government's heating electrification initiative. Heat pumps are gaining traction as an energy-efficient, low-carbon alternative to gas boilers, creating long-term opportunities in new housing, apartment renovations and maintenance services. LG

Rinnai Water Heater CANADA: Rinnai has been recognised as the leading brand in Canada's residential gas tankless condensing water heater market, according to the 2026 North American Heating and Cooling Markets Report by BRG Building Solutions. The company's strong market position has been supported by continued investment in high-efficiency products, expanded distribution and enhanced contractor support. Its SENSEI RX Series offers high energy efficiency, smart recirculation

AI-Driven Customised Cooling Reshapes South Korea's Air Conditioning Market SOUTH KOREA: Samsung Electronics, LG Electronics and Autech Carrier are advancing AI-enabled air conditioning systems that deliver customised cooling by adjusting airflow and energy consumption according to occupants' location, room usage and daily routines. The latest systems use sensors and artificial intelligence to direct or divert airflow, optimise comfort and improve energy efficiency. LG claims

Why Electric Storage Water Heaters Remain Relevant in Emerging Asian Markets Electric storage water heaters continue to hold a significant position across emerging Asian markets, including India, Indonesia, the Philippines, Vietnam, Thailand, Bangladesh and Pakistan. Although electric instantaneous water heaters dominate residential demand in several Southeast Asian markets, particularly the Philippines, Thailand and Malaysia, electric storage water heaters continue to mainta

Housing Australia Future Fund Progress Remains Below Target Australia: Official figures show that Australia's Housing Australia Future Fund (HAFF) had delivered 1,432 social and affordable homes by April, more than two years after its launch. The AUD 10 billion programme aims to deliver 40,000 homes by 2029. According to Housing Australia, a further 5,189 homes are in planning, 4,927 are in pre-development and 6,851 are under development. However, only 82 of the 173 projects

Australia Housing Market Slows Amid Higher Borrowing Costs Australia: Australia's housing market has recorded its sharpest slowdown since the pandemic as higher borrowing costs and changes to tax incentives have weakened market activity. House prices in Sydney and Melbourne have fallen by nearly 5% since the beginning of the year, accompanied by lower auction clearance rates, reduced loan enquiries and declining property sales. The slowdown is expected to affect related indus

New Zealand Updates Infrastructure Funding Framework for Housing Development New Zealand: New Zealand has passed the Infrastructure Funding and Financing Amendment Bill, introducing changes intended to expand funding options for infrastructure supporting residential development. The legislation allows councils, developers and infrastructure providers to use a wider range of financing mechanisms without increasing council borrowing. Under the framework, private investors can f

tiles India's robust housing market is helping the country's tile and marble industry withstand supply-chain disruptions, higher freight rates and fuel price volatility stemming from geopolitical tensions in West Asia. The ongoing conflict in the region has disrupted shipping routes through the Red Sea, leading to higher freight costs, longer transit times and increased marine insurance premiums. Ceramic manufacturers, particularly those in Gujarat's Morbi manufacturing hub,

India's New PVC Import Rule Could Raise Costs for Construction and Building Products India: India has introduced a minimum import price (MIP) on Suspension Grade Polyvinyl Chloride (S-PVC) resin, a material widely used in construction products such as pipes, plumbing fittings and electrical conduits. Under a notification issued by the Directorate General of Foreign Trade (DGFT), imports with a Cost, Insurance and Freight (CIF) value of USD 0.766 per kg or below will require a

Saint-Gobain Expands Asia-Pacific Presence Through Two Acquisitions Vietnam and Japan: Saint-Gobain has announced two acquisitions in the Asia-Pacific region as part of its strategy to expand its presence in construction materials. In Vietnam, the company has completed the acquisition of Phu My Innovative Materials (PMIM), a plasterboard manufacturer that generated approximately EUR 20 million (USD 23.5 million) in revenue during 2025. The acquisition strengthens Saint-Gobain

Demand for Portable Air Conditioners Increases in Japan Japan: Demand for portable air conditioners has increased in Japan following periods of extremely high temperatures, particularly in the Tokai region where temperatures have exceeded 40°C. Retailers reported higher sales of portable units, which are generally priced between JPY 30,000 and JPY 50,000 (USD 200–335). Manufacturers and retailers have also expanded their product ranges as consumers increasingly purchase porta

Fogatti Partners with Ranger Distribution in North America North America: Ranger Distribution Inc. has entered into a distribution agreement with Fogatti to supply the company's RV product portfolio across North America. Under the agreement, Ranger Distribution will distribute rooftop air conditioners, ranges, cooktops, range hoods and KingRVer water heaters to RV original equipment manufacturers (OEMs) and industry partners. The partnership expands the availability of Fogatt

Samsung Electronics Reports Record Q2 Revenue and Operating Profit SOUTH KOREA: Samsung Electronics reported record Q2 2026 consolidated revenue of approximately US$118.9 billion and operating profit of around US$62.0 billion. While semiconductor products remained the primary growth driver, the Digital Appliances (DA) business recorded higher revenue supported by strong demand for air conditioners during the quarter. Despite cost pressures weighing on profitability, Samsung s

Alps Controls Expands HVAC Controls Portfolio Through Copeland Distribution Partnership UNITED STATES: Alps Controls has entered into a distribution agreement with Copeland to expand its portfolio of HVAC controls and temperature management products. The partnership adds Copeland's range of electronic temperature controllers, communicating and non-communicating thermostats, thermostat accessories, and protective enclosures to the Alps Controls online marketplace. The expanded

Mitsubishi Electric to Invest US$30 Million in Ohio IT Cooling Manufacturing Facility UNITED STATES: Mitsubishi Electric has announced plans to establish MEHITS US, Inc. in Mason, Ohio, to manufacture IT cooling equipment for the rapidly expanding U.S. data centre market. The company will invest approximately US$30 million to renovate and repurpose part of an existing manufacturing facility, with production scheduled to begin in April 2027. The new plant will strengthen Mitsu

Pentair to Acquire Taco Group for US$1.4 Billion to Expand HVAC Portfolio UNITED STATES: Pentair has announced plans to acquire Taco Group Holdings, the parent company of HVAC equipment manufacturer Taco Inc., in a transaction valued at approximately US$1.4 billion, subject to customary adjustments. The acquisition will strengthen Pentair's portfolio of water management solutions, increasing its exposure to high-growth markets including HVAC and data centres, primarily in Nor

Johnson Controls Raises FY2026 Outlook Following Strong Q3 HVAC Growth IRELAND: Johnson Controls delivered strong third-quarter fiscal 2026 results, driven by sustained demand for applied HVAC systems and mission-critical building solutions. Total sales increased 9% year-on-year to US$6.6 billion, while Applied HVAC remained the key growth driver across the Americas and Asia-Pacific. Organic orders rose 27%, and backlog reached a record US$21.0 billion, supported by continued

LIXIL Reports Higher Q1 Revenue, Maintains Full-Year Outlook Despite Profit Decline JAPAN: LIXIL reported Q1 FYE2027 revenue of approximately US$2.53 billion, up 4% year-on-year, driven by strong international sales, particularly in Europe and the Middle East. However, core earnings fell to around US$11 million as rising raw material costs, especially aluminium, weighed on profitability in Japan. The company posted a net loss of approximately US$23 million during the quarter

Ariston Group Confirms 2026 Outlook After Strong Q2 Revenue and Margin Growth ITALY: Ariston Group reported second-quarter 2026 net revenue of approximately US$797 million, up 7.4% year-on-year, driven by robust demand for heating products, particularly heat pumps. Adjusted EBIT increased 28.3% to around US$45 million, supported by margin expansion and operational efficiencies. For the first half of 2026, revenue reached approximately US$1.55 billion, while adjusted EBIT rose

Villeroy & Boch Maintains 2026 Outlook Despite Challenging Market Conditions GERMANY: Villeroy & Boch reported first-half 2026 revenue of approximately US$744 million, down 12.4% year-on-year from US$849 million, reflecting portfolio changes and geopolitical challenges. Adjusted for divestments and currency effects, revenue declined 7.4%, while the order backlog increased. Operating EBIT fell to around US$40.4 million from US$55.9 million, and the company recorded a net loss

Zehnder Group Reports Strong Ventilation Growth, Confirms 2026 Outlook SWITZERLAND: Zehnder Group reported first-half 2026 sales of approximately US$455.2 million, up 3% year-on-year, driven by strong demand in its ventilation business. Ventilation sales increased 7% to around US$313.7 million, accounting for 69% of total revenue, while adjusted EBIT rose 15% to approximately US$43.5 million, delivering a 9.5% margin. Net profit increased 2% to about US$27.5 million, despite